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Registered
Join Date: Nov 2007
Posts: 6,274
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Gold?
Is now the time to buy?
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05-27-2013, 08:33 PM
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Registered
Join Date: Jun 2000
Location: bottom left corner of the world
Posts: 22,770
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Sorry, that's a bad subject right now
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05-27-2013, 08:37 PM
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Slackerous Maximus
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,190
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2022 Royal Enfield Interceptor. 2012 Harley Davidson Road King 2014 Triumph Bonneville T100. 2014 Cayman S, PDK. Mercedes E350 family truckster. |
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05-27-2013, 08:44 PM
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Registered
Join Date: Aug 2000
Location: Palm Beach, Florida, USA
Posts: 7,713
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No. The factors that sent gold on its run up are ending. China is slowing big time. The dollar is strengthening. Interest rates are rising. US unemployment remains stubbornly high, which is a deflationary factor. Quantitative Easing will end this year. Most of the underlying justifications for gold rising are coming to an end. Add to that the fact that a significant amount of gold's rise comes from speculation and the assumption that it will always go higher. The second gold looks like its dropping, all the speculators or even the imstitutional investors who need to cover their positions, sell in a panic.
Over time gold always returns to a fairly predictable cost that can be calculated based on the value of the dollar, inflation, and a few other factors. Remember, this is long run analysis, and things can stay in the short run for a long time. But the historic average for gold, even in this environment, is about $800 an ounce. There's a lot more downside to gold than upside. Buying now is like trying to sail into the wind. |
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05-28-2013, 03:16 AM
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Registered
Join Date: Dec 2005
Location: Pine Mountain Georgia
Posts: 844
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I think I would look at silver instead of gold.
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1990 Wanderlodge PT-40 75 911S Silver Anniversary 1952 MGTD 1983 Mercedes 300 TD 1969 Lincoln |
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05-28-2013, 04:05 AM
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Registered
Join Date: Nov 2003
Location: South West Florida
Posts: 2,508
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Ive been thinking of buying a little. I have a few 1oz coins and a bunch of old silver dollars. Never looked at it as much of an investment, just something to have that may go up in value. Just something to collect. What I have I bought years ago.
Since stocks are hitting new highs I may take some gains, maybe put a small amount in gold and silver just to add to what Ive got. Not enough to make a difference, just may buy the different gold coins out there just to have them.
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2000 Boxster S (gone) 1972 911s Targa (sold) 1971 911t coupe roller (sold) 1973 911t coupe / 3.2 (sold) Gruppe B #057 |
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05-28-2013, 07:23 PM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 56,168
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The question is, "is it ever a good time to buy?"
Well, I guess, if you are a gambler, than there are times that it's good and bad to buy gold, but if you are an investor, is any time a good time to invest in gold? Why Buffett thinks investing in gold is stupid - MarketWatch Steadfast Finances10 Reasons Why Investing in Gold is a Bad Idea daveramsey.com | Investing If I was going to buy gold, I would want a time machine to do it with.
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa SOLD 2004 - gone but not forgotten
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05-28-2013, 08:43 PM
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AutoBahned
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Sell now and put the proceeds in Liberty Reserve
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05-28-2013, 09:07 PM
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Registered
Join Date: Nov 2007
Posts: 6,274
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Ha ha ha ha ....
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05-28-2013, 09:28 PM
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